| Title | Does digital empowerment affect corporate green investment efficiency? |
|---|---|
| ID_Doc | 62003 |
| Authors | Liao, FM; Hu, YY; Sun, YH; Ye, SQ |
| Title | Does digital empowerment affect corporate green investment efficiency? |
| Year | 2024 |
| Published | Environment Development And Sustainability, 26, 9 |
| Abstract | The global push for carbon neutrality has led to a surge in green investments, yet the efficiency of these investments remains unsatisfactory due to a poorly structured market for green products. Meanwhile, the digital economy has revolutionized economic, social, and ecological sectors, fundamentally altering the green investment model. This study uses OLS and PSM methods to examine the impact of digital empowerment on green investment efficiency by analysing heavily polluting A-share listed companies in Shanghai and Shenzhen Stock Exchange from 2015 to 2020. Our findings show that (1) digital empowerment significantly improves green investment efficiency; (2) digital empowerment promotes green investment efficiency by enhancing analysts' attention and increasing R & D investment; (3) environmental management certification has a positive moderating effect on the relationship between digital empowerment and green investment efficiency; (4) from the perspective of informal institutions, the promotion of digital empowerment to green investment efficiency is significant in areas with high environmental quality and media attention; and (5) from the perspective of formal institutions, the promotional effect is significant in areas with weak and strong market- and command-based environmental regulations, respectively. This study enriches the literature on factors influencing green investment efficiency and the green effects of digital empowerment at the micro-firm level. It has significant reference value for enterprises to improve the efficiency of their green investment and achieve high-quality development. |
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